An Airline's Revenue, , Is a Function of the Number

question 38

Short Answer

An airline's revenue, , is a function of the number of full price tickets, x, and the number of discount tickets, y, sold. When 300 full price and 600 discount tickets are sold, R = $225,000. Use partial derivatives and to estimate revenue when x = 304 and y = 603.

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Definitions:

Mechanistic Management

A management approach characterized by a highly structured and formalized workplace, clear hierarchies, and rigid division of labor.

Customer Needs

Customer needs are the recognized desires or requirements that clients expect to be fulfilled by a product or service.

Decentralization

The distribution of decision-making power and authority away from a central location or authority figure, often to enhance flexibility and responsiveness.

Lower Level Departments

Departments within an organization that are responsible for executing the operational activities rather than setting strategic goals or making high-level decisions.